FHA loan after conventional loan

[Daniel Day]

I am in the planning stages of purchasing my first deal out-of-state in Utah in the next six months. I currently live in New York City but may be moving to Utah in the next few years. I would love to house hack a small multi-family with an FHA loan after moving to Utah, but would also like to begin purchasing investment property before then. Is it possible to get an FHA loan on a property that you live in after already receiving a more conventional loan to purchase investment property?

[Cherie Orellana]

Yes, you can purchase investment properties conventional and later get an FHA. As long as you only have 1 FHA loan at a time. You can also refinance an FHA to conventional and open yourself up for another 3.5% down FHA loan over and over again.